To supplement the Royal Government of Bhutan’s initiative to promote Cottage and Small Industries (CSIs) towards economic transformation, the Royal Monetary Authority of Bhutan (RMA) and the Bhutan Chamber of Commerce & Industry (BCCI) shall partner as spearheading organizations to facilitate the continuity of the Jabchor platform for equity financing from angel investors. Additionally, BCCI shall also establish and host the Business Information and Facilitation Centre for enabling the grooming sessions, legal support, business information and other necessary technical know-how capacity support.
“Jabchor” is a pilot initiative inspired by the concept of Angel Investors. Jabchor was initiated by Royal Monetary Authority of Bhutan in 2018 creating a unique platform for mapping the investors to potential businesses. It inspires scalable businesses to further explore funding opportunities and matching business partners.
The platform has already hosted 10 entrepreneur’s pitches in two seasons and has proven to be popular with much buy-in from prospective investors circle. The platform gave opportunities to young entrepreneurs to explore a different business model with solutions to alternate access to finance. The platform shall continue to provide and facilitate a holistic and inclusive support services that engages business planning, project proposal developments, legal technicalities, financial statements and preparation for the Jabchor pitch.
The entire facilitation structure shall reinforce robust collaboration within the highly valued network of key government agencies, private sectors, financial institutions, NGOs and other key stakeholders.
To further safeguard the efficiency of the platform, RMA in partnership with BCCI has formulated this SOP outlining clear procedures for conducting the Jabchor events, operation of the business information and facilitation Centre and shall also highlight roles for the implementing partners.
The Jabchor partnership program shall aim to:
- Identify, build capacity and accelerate potential, viable and scalable small businesses to the next level; and
- Provide access to business information, networking opportunities and connect to potential business partners.
Partnership Rational and Scope
- Royal Monetary Authority of Bhutan and Bhutan Chamber of Commerce & Industry shall be the lead partners in facilitating the Jabchor partnership program.
- RMA in pursuance to promoting inclusive access to finance as one of the key pillars to RMA’s strategic plan and BCCI’s overall drive to enhance private sector development aligns to the rationale and scope of the key partner’s engagement to this partnership program.
- The standard operating procedure (SOP) for the partnership program shall serve as a guiding document to the implementing partners for ensuring close coordination, smooth operation and achieving quality output from the Jabchor platform and Business Information & Facilitation Centre.